Lufthansa Technik partners with AeroTurbine
Lufthansa Technik AG and AeroTurbine Inc., a subsidiary of the International Lease Finance Corporation (ILFC) that markets engines and aircraft parts, have announced their intention to enter into a partnership.
Under the terms of the agreement AeroTurbine will supply Lufthansa Technik AG with aircraft and engine components, while Lufthansa Technik will provide technical services for aircraft components of AeroTurbine and additionally supply the Miami-based company with surplus material for resale.
To this end, subject to the agreement of the cartel authorities, Lufthansa Technik AG will acquire a 15 percent interest in AeroTurbine. If the partnership proceeds to the satisfaction of both partners, Lufthansa Technik can exercise the option to increase its holding to 19.9 percent. This new partnership builds on the Hamburg-based company's already close relationship with AeroTurbine and will strengthen its strategic collaboration with the world's largest independent aircraft leasing company, ILFC.
The Chief Executive Officer of ILFC, Henri Courpron, described the agreement as the logical extension of the companies' established market cooperation. "This new partnership is a first step in developing a broader relationship between Lufthansa Technik and ILFC, which will leverage our core products and processes to generate a significant value for our businesses and will further advance ILFC's strategy to provide complete aircraft lifecycle solutions to its customers."